Institute of Chartered Accountants of India, ETCFO

Institute of Chartered Accountants of India, ETCFO

The Institute of Chartered Accountants of India (ICAI) on Saturday mentioned the Funds focuses on ease of doing enterprise, promote home manufacturing and place India as a extra aggressive participant in international commerce, supporting financial resilience and progress.

“Options by ICAI in Pre-Funds memorandum relating to the finance invoice 2025, phasing out of other tax regime, rationalisation of TDS and TCS regime, exemption of withdrawal from NSS and taxation of enterprise trusts have additionally been accepted,” ICAI President Ranjeet Kumar Agarwal mentioned in a press release.

Finance Minister Nirmala Sitharaman on Saturday offered her eighth consecutive Funds. Sitharaman introduced important revenue tax cuts for the center class and unveiled a blueprint for next-generation reforms for Viksit Bharat as she treaded a nice line between fiscal prudence and offering a thrust to progress.

ICAI additionally mentioned deeming the annual worth of two self-occupied home property as nil as an alternative of erstwhile one, is a good transfer.

Amongst different measures, the Funds has introduced a scheme to make India a worldwide hub for toys by specializing in cluster growth.

Contract manufacturing agency Aequs’ Chairman and CEO Aravind Melligeri mentioned the persevering with tilt in the direction of strengthening India’s manufacturing sector is a optimistic step for progress.

“The all-round emphasis on MSMEs, which the minister termed because the second engine of progress is the spine of Indian manufacturing, is in the proper route,” he mentioned in a press release.

Given the present market situations and likewise long-term have to make India a worldwide toy manufacturing hub, Melligeri mentioned the emphasis on clusters for toy manufacturing is welcome.

“Having mentioned that, we’re awaiting some PLI bulletins within the close to future for elements for client electronics, and manufacturing of toys which can present an additional fillip to Make in India,” he added.

The corporate has a toy manufacturing cluster in Karnataka.

  • Printed On Feb 1, 2025 at 10:27 PM IST

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